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It’s going to be a big week for Rupert Murdoch and News Corp next week.

Overnight in London, News Corp’s hopes blew up when British police arrested a third senior News of The World executive. The arrest damages News’ leaked confidence that it has the situation under control.

Is a 38-year-old Harvard dropout ready to take charge of the world’s most global and powerful media company? Many argue James Murdoch does have the necessary smarts to succeed his father as CEO of News Corporation.

Well, stone me, Rupert Murdoch got what he wanted. There’s a turn-up for the books, what a suprise.

Rupert Murdoch is set to increase his ownership of the Australian Sky News pay television channel as a result of British regulators’ go ahead for him to take full control of the British Sky Broadcasting Group.

Rupert Murdoch’s annus horribilus has become more annus, despite some pleasant smelling stuff in the form of a sharply higher half-year result from BSkyB.

James Murdoch is up to the family’s oldest trick, bluff and blustering when it can’t have its way. Dad has turned it into an art form, by threatening to take something away that is not granted.

Overnight we had a taste of what might be ahead for News when Comcast, America’s biggest cable TV group, revealed a fall in earnings despite higher revenues and advertising income.

Rupert Murdoch, I hear, is on the phone again. He’s annoyed by the way the phone hacking scandal has been dealt with by James and his No.2, Rebekah Brooks, writes Michael Wolff .

Imagine if Murdoch had had control of Direct TV and his existing cable business, he’s be challenging Comcast for the top spot and be the biggest pay TV operator in the world, outside of China.

For the first time, Rupert Murdoch’s News Corp has made more money from its US cable TV businesses than from every other part in the business.

There was more detail and reporting overnight on Rupert Murdoch’s almost $US12 billion attempt to take control of the 39% owned affiliate, BSkyB, in London. But Rupe and son James are nowhere to be seen.

Inflation is tipped to rise in China, Murdoch’s BSkyB picks up some Virgin Media businesses,BP’s spending plenty on lobbying and other business news from around the globe.

Taxpayers to chip in for Foster’s, Foster’s write-offs could total $2.5 billion, UK’s Channel Five on the market and BSkyB close to buying Virgin Media TV and Apple takes the most-valuable title.

Big job cuts on the way in the UK … BSkyB takes a shine to MasterChef producer … US 10-year bond rate hits a new low … Aa another US bank bites the dust, the central bank in Spain gives the Catholic Church something to think about …

Job figures in the US are tipped to be the best in 30 months … US banks continue to bit the dust … China puts the brakes on bank lending … Japan is still in deflation … BSkyB is expected to challenge an Ofcom ruling in the UK.

Britain’s Court of Appeals has finally ended the family’s attempts to avoid following a directive from the UK competition regulator that it cut its 17.9% stake in terrestrial TV group ITV, writes Glenn Dyer.

James Murdoch is to deliver one of the most crucial British lectures on the media industry, the MacTaggart Lecture. It will be 20 years after his dad Rupert Murdoch made the same lecture. How similar are their views?

Pay TV is turning out to be one of the biggest money spinners in the media sector, with reported increased earnings across Australia and the UK.

The Murdochs and BSkyB have already taken a bath on the 17.9% of ITV they bought a couple of years ago: But could ITV be about to deliver a killer blow to Sky and Murdoch?